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As we approach the end of the 2020/21 financial year, it's time to get your finances in order. The previous 18 months may have seen massive global...

Print The Association of Superannuation Funds of Australia (ASFA) has welcomed the push from the Government’s reaffirmed commitment to increasing the superannuation guarantee (SG) to 12%, which was announced in the Federal Budget earlier this week, and said it was an important step towards providing adequate retirement savings, particularly for women and younger Australians. ASFA also supported the package of additional measures aimed at boosting women’s retirement savings and increasing flexibility for retirees to make contributions and access income streams which included: Abolishing t...

9% 9.25% 9.5% 10% 10.5% 11% 11.5% 12% This delay has had a knock-on-effect. According to 2017-18 data from the Australian Bureau of Statistics, the median super balance for people approaching retirement (aged 55-64) was $118,600 for women and $183,000 for men. That falls short of the ASFA retirement standard, which sets out how much people should have in super for a comfortable retirement. Raising the SG is intended to help close that gap, and make sure Australians are able to fund a comfortable retirement. Short term income vs long term benefits When it comes to superannuation, the conversat...

The Women's Budget Statement promises $3.4 billion to address inequality. Women's advocates see a 'really significant missed opportunity'. David Adams Gender equality advocates have welcomed the $3.4 billion in Federal Budget funding for women's economic and personal security, but say the measures should go further. The Women's Budget Statement promises to expand childcare subsidies, superannuation, and housing guarantees, with the goal of increasing government support for Australian women. But at just 1% of the Federal Budget's $589 billion in spending measures, some rue a "r...

9% 9.25% 9.5% 10% 10.5% 11% 11.5% 12% This delay has had a knock-on-effect. According to 2017-18 data from the Australian Bureau of Statistics, the median super balance for people approaching retirement (aged 55-64) was $118,600 for women and $183,000 for men. That falls short of the ASFA retirement standard, which sets out how much people should have in super for a comfortable retirement. Raising the SG is intended to help close that gap, and make sure Australians are able to fund a comfortable retirement. Short term income vs long term benefits When it comes to superannuation, the conversat...